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Why?
You have a problem with free enterprise?
You have a problem with private investors seeing an opportunity and making money from it while putting the hundreds of thousands of workers involved in the housing industry back to work over the last few years?
Are you a Socialist or something?
You'd rather have millions more people underwater on their homes?
You'd rather have home construction at a standstill with hundreds of thousands of contruction workers thown out of work?
Me, I'll take a housing recovery in whatever form it takes. Investors SAVED the housing industry.
Ken
Um no offense but screw the housing industry. And free enterprise? LOL. They have been subsidized by the US gov. for decades. If the government never got into guaranteeing loans in the 40's and 50's, the housing industry would never haven gotten to where it is today. And, what the heck does being underwater even mean. You don't see people complaining about their cars being 'underwater.' And if they are above water, what...they can take HELOC's and spend to their hearts content, only to have to pay even more back just due to interest?
The whole idea of a house being an 'asset' is the one of the biggest lies ever told to entrap the average American to 30 years of bondage. I say screw the 30 year mortgage and let it be no longer than 15 so houses can become reasonably priced. Let rates rise so prices drop lower, and those who learn to save can become homeowners outright sooner and quicker so they can save up for their retirement. Disallow foreign investors to buy up property like many other countries do. It is time that a houses become what they were originally meant to be.... A PLACE TO LIVE.
Um no offense but screw the housing industry. And free enterprise? LOL. They have been subsidized by the US gov. for decades. If the government never got into guaranteeing loans in the 40's and 50's, the housing industry would never haven gotten to where it is today. And, what the heck does being underwater even mean. You don't see people complaining about their cars being 'underwater.' And if they are above water, what...they can take HELOC's and spend to their hearts content, only to have to pay even more back just due to interest?
The whole idea of a house being an 'asset' is the one of the biggest lies ever told to entrap the average American to 30 years of bondage. I say screw the 30 year mortgage and let it be no longer than 15 so houses can become reasonably priced. Let rates rise so prices drop lower, and those who learn to save can become homeowners outright sooner and quicker so they can save up for their retirement. Disallow foreign investors to buy up property like many other countries do. It is time that a houses become what they were originally meant to be.... A PLACE TO LIVE.
Signs don't seem to be pointing in that direction, however. If it can be sliced and diced, it is.
Um no offense but screw the housing industry. And free enterprise? LOL. They have been subsidized by the US gov. for decades. If the government never got into guaranteeing loans in the 40's and 50's, the housing industry would never haven gotten to where it is today. And, what the heck does being underwater even mean. You don't see people complaining about their cars being 'underwater.' And if they are above water, what...they can take HELOC's and spend to their hearts content, only to have to pay even more back just due to interest?
The whole idea of a house being an 'asset' is the one of the biggest lies ever told to entrap the average American to 30 years of bondage. I say screw the 30 year mortgage and let it be no longer than 15 so houses can become reasonably priced. Let rates rise so prices drop lower, and those who learn to save can become homeowners outright sooner and quicker so they can save up for their retirement. Disallow foreign investors to buy up property like many other countries do. It is time that a houses become what they were originally meant to be.... A PLACE TO LIVE.
If you just want a PLACE TO LIVE - RENT!!!!!
It's pretty simple.
Whether you agree or not, a house is NOT just a PLACE TO LIVE. It's the LARGEST purchase in most peoples' lives and as such is considered by most people as not just a "place to live" but a huge part of their personal wealth. Consequently there's a BIG difference between "being underwater" on a house and "being underwater" on a car. Being underwater on a car means you can't break even trading it in. Being underwater on a HOUSE means you're effectively TIED to that location. It's difficult for you to MOVE to another city for job or any other purpose. That's a LOT different scenario than simply owing more on your car than it's worth.
Regarding "screw the housing industry" - well, we saw what happened to the ENTIRE COUNTRY last time the housing industry went down. The fact is, the housing industry, like the auto industry, is a HUGE part of the overall U.S. economy, and what happens to IT, happens to the REST of the economy as well. It's all well and good to say "screw the housing industry" but to actually SCREW THE HOUSING INDUSTRY is dumb, dumb, dumb because you are literally cutting off your nose to spite your face. Again, you may not LIKE THAT, but that doesn't change the REALITY of the situation.
Probably a good thing we didn't bet, eh? This is all the markets have to do. Throw a little tantrum and the Fed assures them that they will continue to look out for them.
Probably a good thing we didn't bet, eh? This is all the markets have to do. Throw a little tantrum and the Fed assures them that they will continue to look out for them.
I'd make that bet again TODAY.
QE will be over by the end of the year.
I've said several times that a 10-15% correction was no doubt in the works sometime soon. So what? It will be temporary and bounce back up. Markets correct every once and a while. That's the way they work.
Can the Fed cut interest rates ( any more...maybe 1/16th?) and inject some $$$$ back into QE........bet they can get this thing going again. I am sure the Fed has other tools besides the ones I mentioned???????????????????
If you just want a PLACE TO LIVE - RENT!!!!!
It's pretty simple.
Whether you agree or not, a house is NOT just a PLACE TO LIVE. It's the LARGEST purchase in most peoples' lives and as such is considered by most people as not just a "place to live" but a huge part of their personal wealth. Consequently there's a BIG difference between "being underwater" on a house and "being underwater" on a car. Being underwater on a car means you can't break even trading it in. Being underwater on a HOUSE means you're effectively TIED to that location. It's difficult for you to MOVE to another city for job or any other purpose. That's a LOT different scenario than simply owing more on your car than it's worth.
Regarding "screw the housing industry" - well, we saw what happened to the ENTIRE COUNTRY last time the housing industry went down. The fact is, the housing industry, like the auto industry, is a HUGE part of the overall U.S. economy, and what happens to IT, happens to the REST of the economy as well. It's all well and good to say "screw the housing industry" but to actually SCREW THE HOUSING INDUSTRY is dumb, dumb, dumb because you are literally cutting off your nose to spite your face. Again, you may not LIKE THAT, but that doesn't change the REALITY of the situation.
Ken
Bull Chit.. 80% of folks pay more for their homes than they will ever get out of it.. The only thing the housing industry does is feed construction and local governments. Other than that its a money hole for the average joe.
I'd make that bet again TODAY.
QE will be over by the end of the year.
I've said several times that a 10-15% correction was no doubt in the works sometime soon. So what? It will be temporary and bounce back up. Markets correct every once and a while. That's the way they work.
Ken
You never saw the current collapse coming which was the biggest collapse since the Great Depression so why listen to you?
What made the market drop 800 points in recent trading ?
E-BOL-A!
Who's stocks are suffering ?
The air carriers!
Good thing ebola isn't airborne !
Wait? It is airborne they are flying it to US so we can have our fair share...
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